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What good is a "stablecoin" if the exchange can simply halt withdrawals? If the answer is that they need to be kept in air gapped hardware wallets like all oth

What good is a "stablecoin" if the exchange can simply halt withdrawals? If the answer is that they need to be kept in air gapped hardware wallets like all other crypto, then how do you convert from USDT/C to USD? Assuming you can't find someone off exchange to buy it from you.

yieldcrv 4y ago
yes you keep them in the same kind of wallets as other cryptos you can convert them on DEX’s to other cryptos you can sell them on OTC desks you can redeem them for their underlying collateral if using onchain collateral, or with the issuer stop using exchanges. in crypto they are occasionally part of the journey but people act like they are the destination.
- twblalock 4y ago
  > stop using exchanges. in crypto they are occasionally part of the journey but people act like they are the destination. If you ever want normal people to use crypto, exchanges or banks or something similar have to be part of it. Securely storing crypto is just too hard for normal people.
  - yieldcrv 4y ago
    Its accurate that storing crypto is hard for a lot of people Its also accurate that I don’t care about that and I’m never one of the people pushing for “mainstream adoption”. The alpha exists while it is hard. The Venture Capital exists to bring capital to a place where it is hard. Most of the platforms are financial services. Traditional finance has many obscure financial services that mainstream never directly interacts with and its the same here. In both, there are nuances in having access. You need special hardware and special accounts to be a merchant or payment processor, you need special permission and infrastructure to trade credit default swaps, you have to jump through many hoops to self-custody any paper-claim to an asset. These arent games for mainstream. If you want to jump through those hoops you can.
    - gizmo385 4y ago
      > Its also accurate that I don’t care about that and I’m never one of the people pushing for “mainstream adoption”. And you think the value is going to rise without increased adoption? Or that actually using your Crypto to purchase goods and services is going to become easier without increased adoption?
      - yieldcrv 4y ago
        No, I don’t think those things.

yieldcrv 4y ago

yes you keep them in the same kind of wallets as other cryptos you can convert them on DEX’s to other cryptos you can sell them on OTC desks you can redeem them for their underlying collateral if using onchain collateral, or with the issuer stop using exchanges. in crypto they are occasionally part of the journey but people act like they are the destination.

twblalock 4y ago
> stop using exchanges. in crypto they are occasionally part of the journey but people act like they are the destination. If you ever want normal people to use crypto, exchanges or banks or something similar have to be part of it. Securely storing crypto is just too hard for normal people.
- yieldcrv 4y ago
  Its accurate that storing crypto is hard for a lot of people Its also accurate that I don’t care about that and I’m never one of the people pushing for “mainstream adoption”. The alpha exists while it is hard. The Venture Capital exists to bring capital to a place where it is hard. Most of the platforms are financial services. Traditional finance has many obscure financial services that mainstream never directly interacts with and its the same here. In both, there are nuances in having access. You need special hardware and special accounts to be a merchant or payment processor, you need special permission and infrastructure to trade credit default swaps, you have to jump through many hoops to self-custody any paper-claim to an asset. These arent games for mainstream. If you want to jump through those hoops you can.
  - gizmo385 4y ago
    > Its also accurate that I don’t care about that and I’m never one of the people pushing for “mainstream adoption”. And you think the value is going to rise without increased adoption? Or that actually using your Crypto to purchase goods and services is going to become easier without increased adoption?
    - yieldcrv 4y ago
      No, I don’t think those things.